Secondary Buyout • Automotive

The Carlyle Group Acquires Rhythm

On November 30, 2004, private equity firm The Carlyle Group acquired automotive company Rhythm from Unitas Capital

Acquisition Context
  • This is The Carlyle Group’s 8th transaction in the Automotive sector.
  • This is The Carlyle Group’s 6th transaction in Japan.
Investment Fate
  • Rhythm was sold to a publicly-traded strategic buyer in 2007 for 106M USD.

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M&A Deal Summary

Date November 30, 2004
Target Rhythm
Sector Automotive
Buyer(s) The Carlyle Group
Sellers(s) Unitas Capital
Deal Type Secondary Buyout

Target Company

Rhythm

Hamamatsu, Japan
Rhythm Corp. is an automotive parts manufacturer specializing in steering and suspension components.
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Buyer Overview 1

Buyer

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


Deal Context for Buyer #
Overall 175 of 750
Sector: Automotive 8 of 15
Type: Secondary Buyout 6 of 130
Country: Japan 6 of 30
Year: 2004 34 of 36
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-01 Legend Natural Gas

Houston, Texas, United States

Legend Natural Gas LP is a North American natural gas focused acquisition, development and exploitation company.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-03 Sippican

Marion, Massachusetts, United States

Sippican, Inc. is a designer and manufacturer of systems and associated expendable products for anti-ship missile defense, anti-submarine warfare training and specialized meteorological and oceanographic data gathering and processing.

Sell -

Seller Profile 1

SELLER

Unitas Capital

Hong Kong, China

Category Private Equity Firm
Founded 1999
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Unitas Capital is a private equity firm focused on buyouts and growth capital investments in medium-to-large sized businesses across Asia. Unitas targets opportunities throughout Australia & New Zealand, Greater China, Korea, Japan and Singapore. Areas of interest include branded consumer, retail and industrial manufacturing/services. Unitas dates back to 1999 (when it was part of and known as J.P. Morgan Partners Asia) and has offices in Hong Kong and Shanghai.


Deal Context for Seller #
Overall 2 of 13
Sector: Automotive 1 of 3
Type: Secondary Buyout 1 of 3
Country: Japan 1 of 1
Year: 2004 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-10-01 Haitai

Seoul, South Korea

Haitai is a manufacturer and distributor of confectionery and frozen food products in Korea.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-01 YPS

Singapore, Singapore

YPS is a marketer and distributor of advertising-sponsored Yellow and White Page directories. YPS publishes six directories with a combined circulation of approximately 3.1 million.

Sell -

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